SINGAPORE, Sept. 23, 2014 /PRNewswire/ — Singapore headquartered organisations Aureus Analytics and Temaswiss Wealth formally announced today a strategic collaboration to provide Data Science and Big Data Analytics solutions for financial institutions represented in Singapore and across ASEAN member states. The product and platform will be marketed as Aureus-Temaswiss BigData Solutions. The scope will extend to select risk-management and inter-governmental organisations. IDA (Infocomm Development Authority of Singapore) quotes IDC in its report: the Big Data technology and service market is projected to grow at a compound annual growth rate (CAGR) of 37.2% between 2011 and 2015. By 2015, the market size is expected to be US$16.9 billion. According to a report by Gartner, Banking is the most active industry in making inquiries about big data to Gartner over the last twelve months.
Aureus Analytics excels at providing BigData enabled platform & products that drive the usage of analytics at the point of decision. Its solutions bring power to the decision makers and practitioners by enabling analytics in a simple yet comprehensive manner. Aureus brings together the four essential pillars that are required for a successful Big Data Analytics solution – Deep Domain Skills, Big Data Capabilities, Data Sciences skills and Analytics expertise. Their industry and problem specific products are targeted for CXOs who deal with Customer Experience, Risk and Operations.
Temaswiss’ Consult and Analytics arms brings on-board over 70 years of financial services experience covering Private, Retail and Commercial Banking, Brokerage and Exchanges. Initial focus across wealth management and banking segments will be on: Customer Suitability and Sales Pipeline Data Optimization, Advanced Portfolio Analytics, Customer Demographics data mapping, AML and Financial Crime Prevention Predictive analytics and B2B Supply-chain SME Banking solutions.
Temaswiss Wealth’s Chief Executive Officer, veteran banker Dr. Ranjan Chakravarty, puts it very simply and squarely: "Banks and firms today are challenged by the cost pressures of hiring and retaining project-specific talents and the run-up programme management costs without necessarily getting the best value for money from multiple vendors and the big players. We provide the needs assessment, legacy data quality assessment, process mapping, risk mitigation competencies which when interfaced with Aureus’ comprehensive product suite and versatile ASAP platform will rapidly transform how decision making is driven in the banking & financial services industries. . To expect process managers to be risk managers and to be further technology managers or domain experts, is wishful thinking that just does not work."
Aureus’ CEO and Co-Founder, Anurag Shah states: "One-size-fits-all approach is the first step to failure for any analytics project. At Aureus we understand that each business problem comes with its own set of contextual and tangential problems that need to be taken into consideration. Temaswiss, as a think-tank organization, provides not only the unparalleled understanding of the customer organisation’s needs, but thereby the roadmap competencies required for optimum solutions."
The combined capability will be show-cased at a number of prestigious industry conferences in Singapore and Hong Kong and in roadshows across the ASEAN region – in the coming months. It will contribute to create a vibrant data and analytics ecosystem to position Singapore as an international Data & Analytics Hub to strategically apply analytics capabilities for the global private banking industry.
For inquiries please contact:
Mr. Shanmuga Retnam, Chief Business Officer
Mr. Ketan Pandit, Director Marketing